Featured Listing in Tarrytown: 2504 Keating Lane
October 12, 2015 by Katy Duggan Rymer · Leave a Comment
This well-designed home at 2504 Keating Lane is so special we wanted to feature it this week on West Austin Marketplace. Built by a small custom home builder with quality in mind in 2008, this Tarrytown home features gorgeous reclaimed antique heart of pine floors, walls of windows, and a generous open floor plan just shy of 4000 square feet. Only a few streets over from where my great grandparents built the first home on Indian Trail, this home is located where Keating, Janice and Townes Lane converge at a small grassy triangle. You’ll often see the neighborhood kids playing ball there or running from yard to yard.
If you’re looking for a classic style with a relaxing ambiance, this home is the one for you. French doors off the foyer lead to an impressive study, previously used as a home office but with all of the built in bookshelves it could easily be a library or reading room–and it has a full bath nearby. The chef’s kitchen though is the heart of the home with an expansive granite topped island, bar seating, and miles of counter space for food prep or cooking with friends. It even has a little wine fridge among the sleek stainless appliances. A spacious breakfast area incorporated into the kitchen lends itself well to a large table where the family can gather for meals or to do homework. 
Enjoy holiday entertaining and make some great family memories in the casual yet elegant formal dining room, an extension of the open living space. Lights around the tray ceiling and the modern chandelier can be adjusted to suite any mood or occasion.
The luxurious owner’s suite on the main level features an elegant bath with soaking tub and jetted shower. Two separate vanities and two walk in closets provide ample space for residents to get ready for a busy day.
Outdoor entertaining is fun with a covered living area off the kitchen with a built-in grill and sink. A big screen television shows the big game while steaks are on the grill. There is also a nice informal seating area great for nibbling on appetizers or serving burgers to the kids. Most of the lots in Tarrytown were traditionally cut small because they had smaller homes built on them. This home is situated on a lot and a half, and while the lot is smaller than many homes located outside of Central Austin, there is ample room for kids to play and even a dog run on the side with access to the laundry room. 
A recently added party pavilion is perfect for backyard parties or doing outdoor art projects. This space could also be converted to additional yard space at a buyer’s request.
Upstairs, there are three large bedrooms with two full baths that share a large game room with extensive built ins, mini fridge and sink. There is also a separate media room that can be used as a gym or theater. There are endless possibilities for all of this space.
This home is perfectly located several blocks from Triangle Park and is convenient to Tarrytown and Casis shopping centers, the Howson Branch Library, the Post Office, Move Austin Fitness, Starbucks, Randalls Grocery and Casis Elementary School.
E-mail katyfreshour@gmail.com or call 512-826-4316 for more information or showing.
Posted by Katy Freshour, West Austin Properties, 3312 River Road, Austin, TX 78703. 512-826-4316
Low Inventory Still Causing Record Low Sales
April 18, 2015 by Laura Duggan · Leave a Comment
The Austin housing market is experiencing a crisis of sorts as we ride into the Spring selling season, typically the most active time in our market. Record low inventory is wreaking havoc in our market as population growth and demand in Austin outpace the number of available properties.
Buyers are fighting for properties in almost all price segments with entry level buyers and those seeking a mortgage being the biggest losers in the fray. It is not only common, but the rule right now that there are multiple offers, sales over list price and days on the market limited to the number of days the listing agent is holding the property before submitting “final and best” offers to the seller.
It is indeed a great time to be a seller. And, its a really stressful time to be a buyer. If you are a seller in today’s market, chances are you are either moving to assisted living or out of the city. Why? Because sellers who are also moving up in price or downsizing are disappointed in the prices they would have to pay to move within the city. There are few quality choices for sellers who want to remain, and the competition for what is available is so stiff that few want to jump into market. And, most sellers right now either have a low mortgage payment and interest rate at or below 4% so they aren’t motivated to move.
What does that mean for Austin? Short term it means that prices will continue to increase as demand keeps fueling them upward. It also means that our entry level buyers are having to move farther and farther out into the suburbs. Prices have risen over 16% in the last year.
Forbes recently called Austin the #1 city for overall tech and job creation over the past decade. People are moving here because of our quality of life and business friendly tax situation. I just wonder how long we can sustain the character of the city that I’ve loved and enjoyed since childhood.
Yes, real estate is cyclical. I’ve seen it up and I’ve seen it down and every where in between since I began my real estate career in 1979. The cycles generally run in 10 year cycles. We began tracking the market statistics monthly in 2006 and saw the last downturn before most. Every month we publish a comprehensive real estate market report so we can follow the trends and predict the cycle for the next quarter. Take a look at our April Market Report. You can find all of these market reports at WestAustin.com
If you’re a buyer right now, be patient. The market will loosen. If you’re thinking of selling, now is the best time I’ve seen since 2006 to maximize your tax free equity. Remember that a married couple can take $500,000 equity out of their primary residence tax free.
Real estate will always be local and fluctuates by neighborhood. We are happy to give you a personal assessment of your home or help you find the best property.
Submitted by Laura Duggan, West Austin Properties, 3312 River Road, Austin, Texas 78703; 512-750-2425; laura@westaustin.com
March Real Estate Market Report
March 16, 2015 by Laura Duggan · Leave a Comment
Spring is here in Central Texas, and the real estate market in Austin is already in full swing. Home sales in January and February exceeded those in the same time period for the last seven years. With still fewer than 5000 single family homes actively on the market, demand is still outpacing the supply.
March began with the highest number of pending home sales in history with 3,466 pending home sales. I had to take a double look at that figure just to make sure it was right. Both the inventory and days on market are at record lows. Of course it varies by neighborhood and price range, but the average days on market is 48. Increasing demand and low inventory continues to push prices upward. Take a look at the specifics for each price band and zip code in our March Market Report.
The strongest demand is still for homes under $600,000. All of the price bands under $600,000 are in an Extreme to Normal Seller’s Market.
In the luxury market, those homes priced at or above $1,000,000, a good number of sales are going unreported. We belong to several luxury agent networking groups that share properties that are being sold in the “silent” market or that will never appear in the MLS for a number of reasons. We have the opportunity to tour these homes privately and to showcase our listings with these luxury home groups. The majority of the buyers purchasing these homes are paying cash for them, and we are still seeing multiple offers on these properties even though they are being offered publicly. Our excellent contacts in the real estate industry help us stay ahead of the curve by networking with these luxury agents. It continues to be a big win for our buyers and sellers.
Real estate is hyper local and all of us are Austin natives. If you have questions about the specific data in any neighborhood, we are happy to help you understand what is happening there.
Posted by Laura Duggan, President, West Austin Properties, 3312 River Road, Austin, Texas 78703, 512-750-2425, laura@westaustin.com
Austin Real Estate Market Report for February 2015
February 16, 2015 by Laura Duggan · Leave a Comment
The Austin real estate market started 2015 with higher listing inventory, higher pending sales and higher home sales than this time last year. With 19.4% more of homes on the market this year than last year at this time, this is good news for many home buyers who’ve been competing with multiple offers and rising prices. If inventory continues to increase, this could mean more good news for buyers as prices may stabilize after the usual spring surge in home sales.
Pending home sales are also higher as the number of buyers in the market are absorbing the inventory. In fact, we had the highest number of January pending home sales in 7 years. New appraisal rules that went into effect at the end of January may increase the time that it takes to get mortgage approvals. If that happens, homes may stay pending longer prior to closing and cause this pending home sales number to increase more than normal.
January home sales are also up over the same time last year, again the highest number in 7 years at just over 1400 sales out of a 4813 market inventory of single family homes. That means that there is 3.42 months of inventory available. Generally, 3-6 months of inventory is considered a seller’s market. The lower the inventory, the more the seller has the advantage and we have appreciating prices.
To see all of the statistics in the Austin real estate market in January, take a look at the full report where we have the statistics outlined by price band and zip code. We are also happy to give you a complete assessment of your home’s value in our market.
Posted by Laura Duggan, President, West Austin Properties, 3312 River Road, Austin, Texas, 78703, homes@westaustin.com
